Gold prices are advancing to an all-time high on Friday as the dollar weakened amid prospects of a US interest rate cut next week. Spot gold rose to $2,558.19 per ounce, after hitting a record high of $2,567.93 earlier in the session. Bullion has gained 2.7% for the week so far. US gold futures rose 0.2% to $2,586.60. Gold prices rose more than 1% to hit a record high on Thursday, after US data signaled a slowing of the economy. The dollar fell to a one-week low, making gold less expensive for other currency holders. Spot silver edged 0.1% higher to $29.94 per ounce, and platinum gained 0.8% to $985.20, while palladium climbed 0.08% to $1,055.64. Source: Qatar News Agency
Related Articles
KBA: July 7 official holiday for banks on Hijri new year
All local banks will close on Sunday, July 7, as an official holiday on the occasion of the new 1446 Hijri year, Kuwait Banking Association (KBA) announced Thursday.
KBA said in a press release that all banks will resume their work the day after (Mon…
The Minister of Trade discusses in Geneva mobilizing Arab support for Iraq’s accession to the WTO
Baghdad, The Minister of Trade, Atheer Dawood Al-Ghurairi, met in Geneva with the head of the working group concerned with Iraq’s accession to the World Trade Organization, Saudi Ambassador Saqr Al-Muqbel, in the presence of the ambassadors of Arab co…
Qatar’s Government Tenders Reach QAR 5.5 Billion in Q2 2024
Doha, July 31 (QNA) – The Ministry of Finance revealed on Wednesday that the total value of tenders and auctions in government agencies in the State of Qatar reached QAR 5.5 billion during the second quarter of 2024.
In a post on its X account, the m…